I'm looking at purchasing a first home. Leaning towards a renovation 203k loan?I'd like to buy a home that needs some work and have a loan where it is budgeting my yearly income and down payment available to make it work. I make around $60k/annual without counting a second job on the side and have about 15k free cash.Do I have enough money and salary to purchase a home. I know under 20% you get into PMI insurance and what not. But taking that out of the equation is a 203K loan the loan I need if I intend to renovate the property from the start? Anyone with experience who has done this before would be appreciated.I obv dont have enough money to show up at an auction and pull $300,000 out of a suitcase so where do I look as a first time buyer with my current info shown. Living in NY currently looking at NY/NJ/CT purchase 30 years old. First time buyer. Thanks!January 21 2013 - New City00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.